10.19 BTC Intraday Market Outlook
Bitcoin retested 80,800 twice over the weekend and held. It’s now slowly grinding out a bottom.
The weekly chart opened higher. The 5-day moving average hasn’t formed a death cross yet. The 3-day/2-day charts show a bearish death cross at elevated levels. The daily chart is rebounding from the zero line. The 12-hour chart formed a golden cross at this morning’s open. The 4/6-hour MACD has bottomed. Intraday, wait for a 15-minute pullback and look for a setup to enter.
Support below: 81,550 80,863 80,250
Resistance above: 82,800–83,200 84,300 85,500 $BTC
Bitcoin retested 80,800 twice over the weekend and held. It’s now slowly grinding out a bottom.
The weekly chart opened higher. The 5-day moving average hasn’t formed a death cross yet. The 3-day/2-day charts show a bearish death cross at elevated levels. The daily chart is rebounding from the zero line. The 12-hour chart formed a golden cross at this morning’s open. The 4/6-hour MACD has bottomed. Intraday, wait for a 15-minute pullback and look for a setup to enter.
Support below: 81,550 80,863 80,250
Resistance above: 82,800–83,200 84,300 85,500 $BTC